CIBC Private Wealth Group LLC Lowers Stock Position in CDW Co. (NASDAQ:CDW)

CIBC Private Wealth Group LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 60.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,392 shares of the information technology services provider's stock after selling 5,269 shares during the period. CIBC Private Wealth Group LLC's holdings in CDW were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of CDW in the 4th quarter worth about $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW in the 4th quarter worth about $130,996,000. Proficio Capital Partners LLC increased its holdings in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after buying an additional 683,446 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after buying an additional 252,921 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of CDW by 64.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 412,071 shares of the information technology services provider's stock worth $71,717,000 after buying an additional 161,568 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

CDW has been the topic of a number of research reports. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus target price of $235.50.

CDW Stock Down 7.1 %

Shares of NASDAQ:CDW traded down $11.36 during trading hours on Thursday, hitting $148.12. The company's stock had a trading volume of 404,131 shares, compared to its average volume of 1,144,874. CDW Co. has a 52 week low of $137.31 and a 52 week high of $250.42. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 3.21 and a beta of 0.97. The firm's fifty day moving average price is $174.25 and its 200 day moving average price is $187.01.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.